The Tokenization Stack
How capital flows through tokenization. From institutional allocators to productive yield.
Tag: #usds
2 matching players
Issuance
1Who creates tokenized assets
Securitize and Ondo run most of the issuance. Everyone else is fighting for distribution. When the product is a wrapper, distribution is the only thing that differentiates you.
Stablecoins
1What everything settles in
USDT, USDC, PYUSD. The settlement layer. Increasingly backed by tokenized treasuries themselves, which means the base layer is starting to eat what it settles. That loop is worth watching.
Juan Esquivel / October 2026·For educational purposes only.·OverviewCompareStandardsThreadsRegulationTalksAboutPrivacyContactSubmit a fix
Tokenization Map